Voya Investment Management LLC Lowers Stake in Vir Biotechnology, Inc. $VIR

Voya Investment Management LLC reduced its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 10.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,436 shares of the company’s stock after selling 2,879 shares during the quarter. Voya Investment Management LLC’s holdings in Vir Biotechnology were worth $158,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VIR. GAMMA Investing LLC boosted its stake in shares of Vir Biotechnology by 524.3% during the 1st quarter. GAMMA Investing LLC now owns 7,111 shares of the company’s stock worth $46,000 after acquiring an additional 5,972 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Vir Biotechnology by 26.2% during the first quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company’s stock worth $68,000 after purchasing an additional 2,171 shares in the last quarter. FORA Capital LLC purchased a new stake in shares of Vir Biotechnology during the first quarter worth about $70,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Vir Biotechnology during the first quarter worth about $78,000. Finally, Cerity Partners LLC purchased a new stake in shares of Vir Biotechnology during the first quarter worth about $97,000. 65.32% of the stock is owned by hedge funds and other institutional investors.

Vir Biotechnology Price Performance

NASDAQ:VIR opened at $5.71 on Wednesday. The firm has a market capitalization of $793.23 million, a price-to-earnings ratio of -1.43 and a beta of 1.28. The company’s 50-day moving average is $5.00 and its two-hundred day moving average is $5.36. Vir Biotechnology, Inc. has a 1-year low of $4.16 and a 1-year high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.08). The firm had revenue of $1.21 million during the quarter, compared to analyst estimates of $2.38 million. Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. The business’s revenue for the quarter was down 60.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.02) earnings per share. As a group, equities analysts anticipate that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Insider Activity

In other Vir Biotechnology news, EVP Mark Eisner sold 6,796 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $5.47, for a total value of $37,174.12. Following the transaction, the executive vice president directly owned 108,204 shares in the company, valued at $591,875.88. The trade was a 5.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Vicki L. Sato sold 22,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $4.99, for a total transaction of $109,780.00. Following the completion of the transaction, the director owned 1,254,391 shares in the company, valued at $6,259,411.09. The trade was a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,382 shares of company stock worth $276,350 over the last quarter. 16.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

VIR has been the subject of a number of research reports. Evercore ISI initiated coverage on shares of Vir Biotechnology in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $12.00 target price for the company. Bank of America raised shares of Vir Biotechnology from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $14.00 in a research note on Wednesday, August 27th. Raymond James Financial initiated coverage on shares of Vir Biotechnology in a research note on Friday, July 11th. They set an “outperform” rating for the company. Finally, HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Vir Biotechnology in a research note on Monday, September 15th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.30.

About Vir Biotechnology

Vir Biotechnology, Inc, an immunology company, develops therapeutic products to treat and prevent serious infectious diseases. Its clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company’s preclinical candidates include those targeting influenza A and B, coronavirus disease 2019, respiratory syncytial virus (RSV) and human metapneumovirus (MPV), and human papillomavirus (HPV).